One of the many innovations the Trump administration has brought to trade policy is the use of currency manipulation allegations within subsidy investigations. A ruling on imports of twist ties from China will likely be the first where tariffs are applied with action due in December. The second is a wider review of Vietnam’s trading practices under the section 301 process. Tariffs could be applied as soon as Jan. 8, presenting a geopolitical challenge to the Biden administration. The tariffs may face legal scrutiny as the currency manipulation designation is meant to come from a...